Breakthrough Energy is the umbrella name of several organizations, founded by

Bill Gates William Henry Gates III (born October 28, 1955) is an American business magnate and philanthropist. He is a co-founder of Microsoft, along with his late childhood friend Paul Allen. During his career at Microsoft, Gates held the positions ...

in 2015, that aim to accelerate innovation in

sustainable energy Energy is sustainable if it "meets the needs of the present without compromising the ability of future generations to meet their own needs". Most definitions of sustainable energy include considerations of environmental aspects such as green ...

and in other technologies to reduce

greenhouse gas emissions Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and ...

. It invests in a variety of startup companies that are attempting to commercialize new concepts such as

nuclear fusion Nuclear fusion is a reaction in which two or more atomic nuclei are combined to form one or more different atomic nuclei and subatomic particles (neutrons or protons). The difference in mass between the reactants and products is manifest ...

, large-capacity batteries to store renewable energy, and microbe-generated

biofuels Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration (E ...

History

At the

2015 United Nations Climate Change Conference The 2015 United Nations Climate Change Conference, COP 21 or CMP 11 was held in Paris, France, from 30 November to 12 December 2015. It was the 21st yearly session of the Conference of the Parties (COP) to the 1992 United Nations Framework Con ...

in November 2015, Gates announced that a coalition of 28 high net-worth investors from ten countries had committed to the Breakthrough Energy initiative. A complementary initiative of Gates,

Mission Innovation Mission Innovation is a global initiative to accelerate public and private clean energy innovation to Climate change mitigation, address climate change, make clean energy affordable to consumers, and create green jobs and commercial opportunities ...

, was announced at the same time. In December 2016, a group of investors collectively worth announced more personal commitment to funding the efforts of a fund "focused on fighting climate change by investing in clean energy innovation." The fund is named Breakthrough Energy Ventures fund.

Strategy

At its inception, Gates explained, "The renewable technologies we have today, like wind and solar, have made a lot of progress and could be one path to a zero-carbon energy future... But given the scale of the challenge, we need to be exploring many different paths." Breakthrough Energy invests primarily in businesses where the risk of failure is high and the timeframe for return on investment is 20 years. Traditional

venture capitalists Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which hav ...

look for a return on investment in five years, which may not be enough for the special challenges of the energy sector.

Members

The group is spearheaded by

, who previously announced a personal $2 billion investment, and includes: *

Jeff Bezos Jeffrey Preston Bezos ( ;; and Robinson (2010), p. 7. ''né'' Jorgensen; born January 12, 1964) is an American entrepreneur, media proprietor, investor, and commercial astronaut. He is the founder, executive chairman, and former preside ...

Marc Benioff Marc Russell Benioff (born September 25, 1964) is an American internet entrepreneur and philanthropist. He is the co-founder, chairman and CEO of Salesforce, an enterprise cloud computing company. In September 2018, Benioff acquired ''Time''. ...

Michael Bloomberg Michael Rubens Bloomberg (born February 14, 1942) is an American businessman, politician, philanthropist, and author. He is the majority owner, co-founder and CEO of Bloomberg L.P. He was Mayor of New York City from 2002 to 2013, and was a c ...

Richard Branson Sir Richard Charles Nicholas Branson (born 18 July 1950) is a British billionaire, entrepreneur, and business magnate. In the 1970s he founded the Virgin Group, which today controls more than 400 companies in various fields. Branson expresse ...

Reid Hoffman Reid Garrett Hoffman (born August 5, 1967) is an American internet entrepreneur, venture capitalist, podcaster, and author. Hoffman was the co-founder and executive chairman of LinkedIn, a business-oriented social network used primarily for pro ...

Jack Ma Jack Ma Yun (; born 10 September 1964) is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, he co-founded Yunfen ...

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated m ...

Tom Steyer Thomas Fahr Steyer (born June 27, 1957) is an American climate investor, businessman, hedge fund manager, philanthropist, environmentalist, and liberal activist. Steyer is the co-founder and co-chair of Galvanize Climate Solutions, founder an ...

Meg Whitman Margaret Cushing Whitman (born August 4, 1956) is the US ambassador to Kenya, an American business executive and former gubernatorial candidate for California. She is a board member of Procter & Gamble and General Motors. Whitman was previously ...

Mark Zuckerberg Mark Elliot Zuckerberg (; born ) is an American business magnate, internet entrepreneur, and philanthropist. He is known for co-founding the social media website Facebook and its parent company Meta Platforms (formerly Facebook, Inc.), of ...

University of California The University of California (UC) is a public land-grant research university system in the U.S. state of California. The system is composed of the campuses at Berkeley, Davis, Irvine, Los Angeles, Merced, Riverside, San Diego, San Fran ...

, the sole institutional investor at launch * Nat Simons *

Mukesh Ambani Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire businessman. He is the chairman and managing director of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India's most valuable company by market value. Acc ...

Criticism

There has been criticism that the coalition was announced too early, before crucial details had been confirmed. At launch, a

Gates Foundation The Bill & Melinda Gates Foundation (BMGF), a merging of the William H. Gates Foundation and the Gates Learning Foundation, is an American private foundation founded by Bill Gates and Melinda French Gates. Based in Seattle, Washington, it was ...

spokesman confirmed that investment professionals had yet to be appointed, named investors—other than Gates—had not publicly stated their level of investment and a financial structure had not been confirmed.

Notable projects

*Blue Frontier - a startup developing new

air-conditioning Air conditioning, often abbreviated as A/C or AC, is the process of removing heat from an enclosed space to achieve a more comfortable interior environment (sometimes referred to as 'comfort cooling') and in some cases also strictly controlling ...

technologies *Verdox — carbon capture. On February 2, 2022, Breakthrough Energy agreed to join an investors syndicate providing $80 million in capital to Verdox, Inc., a

startup company A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend ...

attempting to

scale Scale or scales may refer to: Mathematics * Scale (descriptive set theory), an object defined on a set of points * Scale (ratio), the ratio of a linear dimension of a model to the corresponding dimension of the original * Scale factor, a number ...

a new

carbon capture Carbon capture may refer to: * Carbon capture and utilization, where the captured carbon dioxide is used * Carbon sequestration, where the captured carbon dioxide is stored ** Carbon capture and storage, referring to carbon sequestration from point ...

and removal platform developed at the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a Private university, private Land-grant university, land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern t ...

—one of five carbon capture technology investments the organization would make by the beginning of the following May. The Verdox, Inc. carbon capture design, created by chemical engineers

T. Alan Hatton T. Alan Hatton is the Ralph Landau Professor and the Director of the David H. Koch School of Chemical Engineering Practice at Massachusetts Institute of Technology. As part of the MIT Energy Initiative, he co-directs the Center for Carbon Capt ...

and Sahag Voskian, co-won a $1 million preliminary prize along with Carbfix (co-founded by geochemist

Wallace S. Broecker Wallace "Wally" Smith Broecker (November 29, 1931 – February 18, 2019) was an American geochemist. He was the Newberry Professor in the Department of Earth and Environmental Sciences at Columbia University, a scientist at Columbia's Lamont–D ...

) from an X Prize Foundation contest funded by

SpaceX Space Exploration Technologies Corp. (SpaceX) is an American spacecraft manufacturer, launcher, and a satellite communications corporation headquartered in Hawthorne, California. It was founded in 2002 by Elon Musk with the stated goal of ...

CEO

Elon Musk Elon Reeve Musk ( ; born June 28, 1971) is a business magnate and investor. He is the founder, CEO and chief engineer of SpaceX; angel investor, CEO and product architect of Tesla, Inc.; owner and CEO of Twitter, Inc.; founder of The ...

. *

Methanol fuel cell Direct-methanol fuel cells or DMFCs are a subcategory of proton-exchange fuel cells in which methanol is used as the fuel. Their main advantage is the ease of transport of methanol, an energy-dense yet reasonably stable liquid at all environmental ...

s (August 2022), conversion of methanol to electricity Some of the activities include how to connect producers and consumers of

green hydrogen Green hydrogen (GH2 or GH2) is hydrogen generated by renewable energy or from low-carbon power. Green hydrogen has significantly lower carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas, which makes up the ...

References

; Bundled references {{reflist, group=list

External links

Official website
2015 in the environment 2015 in Paris Climate change finance United Nations climate change conferences Renewable energy commercialization Sustainable energy Bill Gates